Gold price skyrockets thanks to safe-haven demand
Gold prices increased in the trading session on Thursday, as trade tensions escalated due to a series of new US tariffs that boosted safe-haven demand, while the weaker USD and expectations of interest rate cuts continued to support the precious metals market.
The latest tax increase by US President Donald Trump with tariffs ranging from 10% to 50%, imposed on goods from dozens of countries - officially took effect on August 7, marking a drastic step in his tough trade strategy.
Trump also announced a 100% tariff on imported semiconductors, but there will be exemptions for manufacturing companies or companies committed to manufacturing in the US.
Ms. Soni Kumari - commodity strategist at ANZ, commented: "Instability has become a focus, especially after new developments related to tariffs, which is reviving safe-haven demand. In addition, macro market sentiment also supports gold, especially as the USD weakens and expectations of the US Federal Reserve (FED) to cut interest rates increase. See more...
Lao Cai collects 710 billion VND in budget from hydropower in the first 7 months of the year
According to statistics, in Lao Cai province, there are currently 105 projects that have completed power generation, with a total installed capacity of 1,768.85 MW.
According to information from the Department of Industry and Trade of Lao Cai province, in the first months of 2025, hydropower plants in the area have performed well in safe and efficient power generation operations, contributing to the completion of power output targets.
The electricity output in the first 7 months of 2025 of hydropower plants in the province reached 3,483 million kWh.
Hydropower projects in the province that have been put into operation have been contributing to a stable state budget.
In the first 7 months of 2025, hydropower plants contributed VND 710 billion to the budget and are expected to continue to increase in the coming time. See more...
Art conical hats and the livelihood of disadvantaged workers in Hanoi
Construction steel prices increase
Domestic construction steel prices have shown signs of increasing again after a long period of price holding. Recorded on August 7, many businesses adjusted retail prices at factories in the direction of a slight increase of 50 - 150 VND/kg, depending on the type.
Specifically, according to steelonline.vn, Hoa Phat's CB240 steel is listed at VND13,230/kg; D10 CB300 steel is listed at VND12,830/kg. At Viet Y Steel, CB240 is priced at VND13,130/kg, D10 CB300 is VND12,520/kg. Viet Sing enterprises also adjusted according to the general level, respectively 13,130 VND/kg for CB240 and 12,930 VND/kg for CB300.
According to the bulletin of the Vietnam Steel Association published in July 2025, the steel market in the first 6 months of 2025 will face many challenges such as tariff barriers, trade defense measures, political conflicts, a series of new policies and unstable developments of the steel market, global market political conflicts, which will affect steel consumption demand. See more...
